China's Pensions Sector Opening Up to Foreign Investment

August 26, 2019 | BY

Vincent Chow

Foreign insurers are encouraged to participate in the country's emerging private pensions sector as the state pension fund is heading towards a $1.6 trillion gap over the next 30 years.

China's aging population is finally forcing the government to open up its pensions market. Authorities are planning a series of policy measures aiming to make it easier for foreign companies to tap the country's nascent private pensions sector for the first time.

Beijing wants to develop the private sector's involvement in the country's pension system as a supplement to its existing public fund which looks increasingly unfit for purpose. By piloting tax incentives and relaxing market entry rules, the plan is also to involve foreign companies early on in the development of China's private pensions market in order to capitalize on their expertise accumulated over the years in markets elsewhere.

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